Least Understood and Most Violated Laws in Real Estate
This course provides an overview and analysis of Federal and Georgia laws, statutes, regulations, and rules.
About the Course
On the Schedule:
In this CE class, you’ll get an overview and analysis of the Federal and Georgia laws, statutes, regulations, and rules that govern residential real estate transactions/mortgages.
This course is clearly broken down into segments that explain concepts like redlining, RESPA prohibitions, kickbacks and compensation, and permitted and prohibited duties. We’ll take a look at the origins of these regulations, the their rationale, and significance to the integrity of the real estate purchase and financing process.
We’ll also take a look at the impact of Federal regulations on the sales process of Georgia Real Estate transactions. Ethical issues pertaining to prohibited acts, fairness in lending, fraud detection, fair and accurate advertising, predatory lending, and steering will all be addressed. Having a solid understanding of industry laws can help you feel more confident when making professional decisions, and better understand what can be done and what can’t.
Course Content
Chapter 1: Real Estate& Mortgage Licensing Law
At the end of this Chapter, students will be able to:
- Recognize the differences between real estate and mortgage licensing requirements
- Identify the cases when Affiliated Business Disclosure is required according to underRESPA – Real Estate Settlement Procedures Act
- Outline the Loan Originator Compensation Rule
- Identify possible issues with Real Estate commissions for selling residential properties.
- Understand the effects of prohibited conduct on license status
Chapter Time: 70 minutes
Chapter 2: Advertising under Federal and Georgia Law
At the end of this Chapter, students will be able to:
- Restate the definition of “advertisement”. Identify the types of materials included in and excluded from the definition of “advertisement”.
- Restate the list of items that must be included in advertising to comply with legislative requirements.
- Identify prohibited and required advertising practices set forth by Federal and Georgia laws that protect consumers from predatory advertising tactics.
ChapterTime: 50 minutes
Chapter 3: Ethics and Consumer Protection
At the end of this Chapter, students will be able to:
- Recognize how unethical behavior negatively impacted the public's perception of the real estate & mortgage lending industry.
- Identify acts and practices that are considered unethical by regulators.
- Outline conduct that will ensure ethical treatment of consumers.
- Identify what is considered a UDAAP
- Recognize what predatory lending and steering are
- Restate the definitions of disparate impact and disparate treatment
ChapterTime: 85 minutes
Chapter 4: Federal Laws: TILA and RESPA Overview
At the end of this Chapter, students will be able to:
- Recall the prohibitions set forth by RESPA (Regulation X) specific to accepting kickbacks, split charges, and unearned fees.
- IdentifyTILA (Regulation Z) mortgage loan compensation rules and record retention requirements to provide evidence of compliance.
- IdentifyTILA (Regulation Z) requirements for disclosing licensee information on loan documents, including (a) the company’s name and license number and (b)individual real estate licensee’s name and license number.
ChapterTime: 35 minutes
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